Mixed Earnings for Apple

Apple's latest earnings report highlights a mixed performance, with record revenue of $123.9 billion for Q1, marking a 4% increase from the previous year. However, iPhone sales declined by 1%, falling short of estimates, and the company's wearables and accessories category decreased by 2%. Despite gains in Mac and iPad sales, which were both up by 15%, overall device sales, particularly in China, showed a concerning trend, with an 11% drop. Still, Apple's services sector reached an all-time revenue high of $26.34 billion, reflecting a strategic shift towards services as the company aims to diversify its revenue amid slowing iPhone growth.